Gold prices in Pakistan moved higher on Saturday, tracking gains in the international market. The rise follows a volatile week for the precious metal both at home and abroad.
In the local market, the price of gold per tola climbed by Rs11,700 to reach Rs519,462. The rate for 10 grams also increased, rising by Rs10,030 to Rs445,354, according to figures released by the All Pakistan Gems and Jewellers Sarafa Association.
A day earlier, on Friday, gold had fallen sharply. The price per tola had dropped by Rs21,400 to close at Rs507,762. Traders said the fresh increase reflects renewed strength in global prices.
Silver also moves up
Silver prices also recorded a strong gain. The metal rose by Rs444 to reach Rs8,269 per tola in the local market.
In the international market, gold prices increased by $117 to $4,967 per ounce, including a premium of $20. Analysts say global trends continue to play a key role in setting local prices, as Pakistan depends on imported bullion.
Recent trend in local market
Gold prices have shown sharp swings over the past few days. On February 6, the rate stood at Rs507,762 per tola after a steep fall. On February 4, it had climbed to Rs529,162, while on February 3 it was recorded at Rs514,362. Earlier, on February 2, the price had dropped to Rs490,362 per tola.
Market observers say such movement reflects uncertainty in global financial markets and changing investor demand.
China extends gold buying
In a separate development, China continued to increase its gold reserves. Data from the People’s Bank of China showed the country extended its gold buying for a 15th straight month in January.
China’s gold holdings rose to 74.19 million fine troy ounces at the end of January, slightly higher than 74.15 million a month earlier. The value of these reserves jumped to $369.58 billion from $319.45 billion in December.
Gold is widely seen as a safe investment during times of economic and political uncertainty. Prices surged earlier this year and briefly touched a record near $5,600 per ounce during heavy speculative buying in January. However, the rally slowed after the nomination of Kevin Warsh as the next chair of the US Federal Reserve, pushing prices down to about $4,403 per ounce earlier this week.
Gold is now trading near $4,960 per ounce. Despite higher prices, China’s gold consumption fell for a second year in 2025, dropping 3.75 percent to 950 metric tons, according to the China Gold Association.
